Dear friends and colleagues:
Echoing Hungarian Prime Minister Viktor Orban, President Trump has said, “China beats you with trade, Russia beats you with war.” Tariffs are his answer to both challenges. He sees a protected U.S. market as the way to win at the cash register, and domestic production of military equipment and strategic minerals and materials as the path to dominating on the battlefield.
In my latest article for Foreign Affairs, “The New Supply Chain Insecurity,” I argue that the security costs to protectionism are just as dire as the economic ones. The U.S. defense industrial base has never gone it alone, and is now even more dependent on international trade for scale, profits, and innovations as the nature of warfare transforms.
Instead of strengthening “Fortress America,” detaching from global supply chains will make it easier for friends and foes alike to prevail over the United States not just in trade but in war. You can read my full take paywall-free here.
As always, thanks for reading.
Sincerely,
